Wrong Medicine ; Following the Strategic Sale by the Singh Family to Daiichi Sankyo, Ranbaxy Laboratories Falls Into a Regulatory Imbroglio with Multiple Agencies in the Us.

Summary

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There is nothing to it, said Malvinder Mohan Singh, MD and CEO of Ranbaxy Laboratories, on the day Indian newspapers first reported legal trouble in the US. Several days later, though, he amended his stance. Clearly Ranbaxy's reputation has been damaged we will work hard to correct this damage, he promises.

In the intervening week there was talk of a US Congressional probe in addition to the ongoing Food and Drug Administration (FDA) and Department of Justice investigations. The pressure intensified as Ranbaxy's share price lost almost a fourth of its value in just two trading days on speculation that the strategic sale to Japanese drug maker Daiichi Sankyo could be undone.

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Wrong Medicine ; Following the Strategic Sale by the Singh Family to Daiichi Sankyo, Ranbaxy Laboratories Falls Into a Regulatory Imbroglio with Multiple Agencies in the Us.

Ranbaxy duly swung into damage-control mode, with Singh pointing a finger at a multinational pharma rival for trying to scupper the $4.6-billion Daiichi deal. While that may be true (after all, generic c...

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